Raynham Park owner George L. Carney Jr. is getting ready to submit a $400,000 application to bring slots to the dog-track site and invest at least $125 million in the project.

Carney has until Jan. 15 to file an application for a slot parlor and the associated $400,000 fee with the Massachusetts Gaming Commission.

Last week, the commission voted to fast-track the lone slot license it can issue. Chairman Stephen Crosby estimated it could be issued within a year, said Elaine Driscoll, commission spokesperson.

She said casino licenses are expected to be issued in February 2014.

Whoever wins the slot license must invest $125 million; pay $25 million for a 5-year license, and pay a 40 percent tax on gaming revenues, she said.

So far no one has submitted an application, but the principals of Plainridge Racecourse have paid the $400,000 application fee and expressed their intent to seek a slot license for that site in Plainville, Driscoll said.

Carney said he’s working on the proposal and will file in time to meet the deadline.

“It will be a whole lot more than a slot parlor, if permitted,” said Carney.

He said he is confident Raynham Park’s location, off Route 138, will give him an edge over any competitors.

“It’s been in the gambling business for 75 years; the neighbors know what to expect from me and the town of Raynham supports slots,” he said.

The track will also be a stop on the future South Coast Rail line, which will connect Boston to New Bedford and Fall River, Carney added.

“If granted, it will bring a lot of jobs,” Carney said.

He declined to specify the number of jobs and the amount of tax revenue a slot parlor would generate, preferring to wait until the application is finalized. “I’m not going to guess,” he said.

Asked if a construction debris processing facility on the site would be relocated if a slots parlor is approved, Carney said, “It’s good possibility it would be moved.”

But, he added, no firm decisions have been made.

“Presently there are many operations running on the grounds. If granted a (slots) license, many of the operations will be moved to another location,” Carney said.

After the Jan. 15 deadline, the gaming commission will evaluate the proposals, do background investigations to determine financial ability and the integrity of the applicants and hold hearings, said Driscoll.

The $400,000 application fee covers the cost of the background investigation and $50,000 will be set aside for the host and surrounding communities to study mitigation needs.